Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Sees Large Increase in Short Interest

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,770,000 shares, a growth of 19.6% from the August 15th total of 1,480,000 shares. Based on an average daily trading volume, of 409,800 shares, the short-interest ratio is presently 4.3 days. Approximately 3.9% of the company’s stock are short sold.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded down $0.26 on Monday, reaching $69.87. The company had a trading volume of 6,780 shares, compared to its average volume of 417,590. The stock has a market capitalization of $3.26 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The firm’s 50 day moving average price is $64.55 and its 200 day moving average price is $61.14. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. During the same period last year, the company earned $1.33 earnings per share. As a group, equities analysts predict that Texas Capital Bancshares will post 3.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on TCBI. Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Citigroup reaffirmed a “sell” rating and issued a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Finally, Stephens boosted their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.77.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the acquisition, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the acquisition, the director now owns 55,294 shares in the company, valued at $1,102,009.42. The disclosure for this purchase can be found here. Insiders purchased 43,500 shares of company stock worth $876,400 over the last three months. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Texas Capital Bancshares during the 2nd quarter valued at $26,000. CWM LLC raised its stake in shares of Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. purchased a new stake in Texas Capital Bancshares in the 1st quarter worth about $50,000. Fidelis Capital Partners LLC purchased a new position in Texas Capital Bancshares during the 1st quarter valued at $54,000. Finally, TFO Wealth Partners LLC grew its position in Texas Capital Bancshares by 123,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after acquiring an additional 2,475 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.